Lovely uptrend channel in postion and stock is bang on the base line and also right on MA support.

From here we could see a rise back up to the top of the channel at circa of 479p plus and maybe a breakout upwards.....

From Investor Inteligence..

After banks, WPP was the top performer in FTSE100. Here its chart reveals that the 450p resistance is crumbling, suggesting a potential short-term rally to 500p. Overweight.

Been a good trading buy this over the last couple of days, hope some of you guys bagged it.

was happy with my portfolio as it stood, but now i have sold CFM, i shall have another look at WPP tomorrow along with SHP, who came in with good figures today.

however, i would not be at all susprised to see NY have a sharpish sell-off later this evening ..... with all europe on may day hol tomorrow plus possible end of week malaise plus uk with b/h on monday, tomorrow could well be a day to take profits or just sit on one's hands

Personally GF I'd like to see that support line drawn through the lows. April hasn't shown much progress but the SP has broken through the downtrend established back in June 08 (so the edge of the Times laid over my iPhone tells me!). Perhaps a month of consolidation before the next move up? Or perhaps 400p ish to test that support first. The RSI appears to have broken it's support line already.

Pth

A buy at 612.5p
The shares, over a five year period, have traded between (roughly speaking) 500p and 700p plus. Last seen the WPP ordinary shares stood at 612.5. On a ten year view they have been as high as 850p. So on the face of it, the share price seems towards the bottom of that historical trend. Moreover, the shares look as though they may have moved out of the recent short term down trend that held sway the whole of last year to sometime last September, when the share price indicated a new trend and extended market support for this equity. But this is not a 'technical' argument. So what about the fundamentals that explain that change in?
...But the basic point is that WPP is an internationally diversified British company plugged into the cycle of economic prosperity form which it in part benefits by its operational gearing when things improve...
Original article on UK-Analyst.com